Life Sciences Post-Closing Price Reporting Covenant Clause
Summary
This Life Sciences Post-Closing Price Reporting Covenant Clause details the parties' responsibilities to comply with price reporting rules the target may be subject to as a result of being a participant in government sponsored health care programs, such as Medicare or Medicaid. Life sciences companies are subject to extensive price reporting obligations to the Centers for Medicare and Medicaid Services and other governmental agencies as a condition to having their products covered under Medicare, Medicaid and other federal and state programs. A buyer may need seller's assistance or at least access to seller's records for some period of time after closing to facilitate buyer's price reporting. This template provides the basic covenant to comply with reporting requirements. The definition of Government Price Reporting should be tailored to the specific transaction; see the drafting note. For detailed guidance on life sciences transactions, see Life Sciences M&A Transactions and Life ...